IndusInd Bank Home Loan
IndusInd Bank offers home loans amount up to 85% of your property’s value for a maximum tenure of 30 years at an interest rate starting from 8.35% -9.45% p.a.
Apply for Indusind Bank Home loan @ 8.35% -9.45% Interest Rates
IndusInd Bank Home Loan Details
| Loan Amount | Up to 85% of the cost of property or construction |
| Margin Required | Minimum of 15% of the cost of property or construction |
| Tenure | 30 years |
| Rate of Interest | 8.35% -9.45% |
| Processing fee | Up to 1.50% of the loan amount or Rs. 4,500 (whichever is higher) + applicable taxes |
| Income Eligibility | Minimum net monthly income of Rs. 25,000 |
| Age Eligibility | 24 to 70 years |
| Turnaround Time | Home loan is processed within 7 days of submitting the complete set of documents. |
Features and Benefits of IndusInd Bank Home Loan
- Home loans available for purchase or construction of a new residential property, improvement or extension of your existing home.
- Balance transfer facility available to transfer the existing home loan from another financial institution to IndusInd Bank.
- Quick home loan application and disbursement process
- Seamless, transparent, and secure loan process.
- Loan foreclosure available.
- Pradhan Mantri Awas Yojana (PMAY) credit linked subsidy scheme (CLSS) available.
- Home loan top up available.
- Wide range of housing loan products.
- Doorstep service.
- No hidden charges.
- Simplified documentation process.
Tip - Check Credit Score before Applying for a Home Loan.
IndusInd Bank Home Loan Interest Rate
The current interest rate for IndusInd Bank Home Loan interest rate starts at 8.35% -9.45% per annum.
IndusInd Bank Home Loan Fees & Charges
| Type of Charges | Quantum |
| Processing fee | Up to 1.50% of the loan amount or Rs. 4,500 (whichever is higher) + applicable taxes |
| Prepayment charges | Up to 2% of the outstanding loan + applicable taxes |
| Delayed payment interest | Additional interest up to 24% p.a. |
| List of documents/photocopy of documents | Up to Rs. 500 |
| Charges for PDC swap/cheque dishonor/disbursement cheque cancellation post disbursement | Up to Rs. 200 |
| Reappraisal of loan post 6 months from sanction | Up to Rs. 2,000 + applicable taxes |
| Increase/Decrease in loan term | Up to Rs. 500 + applicable taxes |
Also Read - 10 Smart Ways for Managing Home Loan EMIs
IndusInd Bank Home Loan EMI Calculation
You can use the IndusInd Bank Home Loan EMI Calculator available online on our website or IndusInd Bank’s official website to calculate the IndusInd Bank Home Loan EMI. All you need to do is open the EMI Calculator, enter a few details, i.e. the loan amount needed, applicable interest rate and repayment tenure. Once you input these three parameters, your EMI will be calculated instantly and displayed on the screen.
Indusind Bank Eligibility Criteria
- Minimum age: 24 years at the time of application.
- Maximum age: 70 years or retirement, whichever is earlier at loan maturity.
- Minimum net monthly income: Rs. 25,000.
- Minimum experience: Total 2 years, with minimum 1 year in the current organisation.
- Minimum stay at the current residence: 1 year, if rented.
- Location: Resident of the location where IndusInd offers home loan.
Also Read - How to Activate Your IndusInd Credit Card?
Document Required for Indusind Bank Home Loan
- Loan application form
- Recent passport sized photograph
- Proof of identity, residence, and signature
- Income document:
- Salaried: Salary slips of last 3 months & Form 16/ITR of last 3 years.
- Self-employed professionals: Certificate for education qualifications, proof of business existence, ITR (for self and business), Profit & Loss, and Balance Sheet for last 3 years
- Self-employed: Certificate for education qualifications, proof of business existence, business profile/ ITR (for self and business) for last 3 years/ Profit & Loss and Balance Sheet for last 3 years
- Property documents
- Processing fee cheque
- Bank statements for the last 6 months
Also Read - Home Loan Tax Benefits
How to apply for IndusInd Bank Home Loan
You can apply for IndusInd Bank Home Loan by:
- Walking-in to any of the branches of the bank.
- Calling their PhoneBanking unit at 1860 267 7777 (24x7 Toll Free).
- Writing them at reach4loan@indusind.com.
- Online through MyMoneyMantra by following the below-mentioned steps:
- Visit MyMoneyMantra and then go to the Home Loan section under Loans tab
- Select your gender
- Choose your place of residence
- Choose the purpose for the loan
- Select the city where you want to purchase the property
- Enter the approximate value of the property
- Input your employment type
- Enter your annual income
- Enter the loan amount you require
- Enter the personal details as asked
- Type in your email address and phone number
- Accept the conditions & proceed further
- You will be sent an OTP to your mobile number
- Enter the OTP
- You will be contacted for further verifications until the loan is disbursed.
Also Read - Tax Benefits on the Second Home Loan
IndusInd Bank Customer Care
You can call IndusInd Bank Customer Care at 1860 267 7777 (24x7 Toll Free).
IndusInd Bank Home Loan FAQs
IndusInd Bank does not offer any EMI moratorium on home loan repayment.
You can bring in co-applicants for your home loan application, increase your CIBIL score, repay your existing loans and credit card dues, and add more income sources (if any) to increase your chances of getting a higher loan amount.
You can get a maximum repayment term of 30 years for IndusInd Bank home loan.
Yes, IndusInd Bank offers the home loan balance transfer facility to transfer your outstanding home loan loan amount borrowed from another lender to IndusInd.